Ruto Launches HUSTLERS FUNDS. How to Apply for Loan Via USSD & Mobile App
President William Ruto, on Wednesday, November 30, ushers in a new dawn; the launch of the Hustler Fund in a ceremony held at the Green Park Terminus in Nairobi.. It will not only be abt access to affordable credit, but also ending the exclusion of Kenyans at the bottom of the economic pyramid frm accessing crucial financial services
The fund will provide 500 times cheaper credit to Kenya with a daily interest rate of 0.002 per cent. There are four categories of loans: personal finance, microloan, SMEs and start-ups.
The range for the personal loan category will be between Ksh500 and Ksh50,000, which should be repaid within 14 days. SMEs and start-ups can access loans of up to Ksh250,000. Loan limits will be based on credit scores, which implies that the time taken to service a loan will play a major factor in processing future loans.
The president said the Hustler fund will be 500 times cheaper than the average lender in the market.
How to Apply
Applications for the loan will be through a USSD code *254# that will lead the user to a menu.
Alternatively, you can also access the credit facility through mobile applications provided by mobile money service providers in the country.
